1 Oct 2012 07:00
FOR IMMEDIATE RELEASE | 1 October 2012 |
SOPHEON PLC
GRANT OF OPTIONS
Sopheon plc ("Sopheon" or " the Company") announces that it has granted options over ordinary shares of 5 pence each in the share capital of the Company ("Ordinary Shares") to certain directors. These grants are part of a wider grant of options over 5,285,598 Ordinary Shares, to both new and existing staff members.
Of this total, options over 285,000 Ordinary Shares have been granted to new members of staff. The remaining 5,000,598 have been granted to members of staff that have been with the company for ten years or longer. This second category represents the replacement of options previously granted to these members of staff approximately ten years ago, of which 146,112 lapsed in 2011 and 4,854,486 have lapsed in 2012 or are due to lapse in 2013. As part of this event, the options due to lapse in 2013 have been cancelled. Accordingly, the vast majority of this category can be considered as replacement or continuation of options in existence at December 31, 2011 and included in our financial statements as of that date.
Four directors are involved in this event. Barry Mence has been granted options over 122,500 ordinary shares, Andrew Michuda over 2,767,594, Arif Karimjee over 462,500 and Bernard Al over 25,000 ordinary shares. Following this grant, Barry Mence has options over a total of 485,000 ordinary shares, Andrew Michuda over 3,997,000, Arif Karimjee over 1,150,000 and Bernard Al over 25,000 ordinary shares.
All the options will vest evenly over 3 years, and are exercisable up to 10 years from the date of grant. The options have been granted at a price of 5.25 pence per share, being the mid-market closing price on AIM on 28 September 2012.
Chairman Barry Mence said:
"We are proud of the fact that we have so many staff that have been with us for ten years or longer, and have shown such commitment to our company and our vision. It is right that share option incentives which are due to lapse without exercise are renewed, with vesting conditions designed to encourage continued commitment to the company."
For further information contact:
Barry Mence, Chairman | Sopheon plc | + 44 (0) 1483 685 735 |
Arif Karimjee, CFO | Sopheon plc | + 44 (0) 1483 685 735 |
Charlotte Stranner / Henrik Persson / Victoria Bates | finnCap | + 44 (0) 20 7600 1658 |
Guy McDougall / Heather Armstrong | Newgate Threadneedle | + 44 (0) 20 7653 9842 |
Claire Verhagen | Citigate First Financial | + 31 (0) 205 754 010 |
About Sopheon
Sopheon (LSE: SPE) is an international provider of software and services. Sopheon's solutions structure, align and manage innovation processes to help organizations generate more revenues and profits from new products. Sopheon's solutions are used by industry leaders throughout the world, including BASF, Corning, Electrolux, Honeywell, Lockheed Martin, Philips and SABMiller. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Euronext in the Netherlands. For more information, please visit www.sopheon.com.